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  3. determine the purchase price at the indicated time

Determine the purchase price at the indicated time before maturity of the following bond redeemed...

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Finance

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Determine the purchase price at the indicated time before maturity of the following bond redeemed at par shown in the table below. Par Value $47,000 Bond Rate Payable Semi-Annually 7.5% Time Before Redemption 10.5 years Yield Rate 6.75% Conversion Period annually The purchase price of the bond is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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